Increase in sugar price: Millers, distributors asked to stop overcharging

ISLAMABAD: Following an increase of Rs 900 per 50-kg bag, or Rs 18 per kg, in refined sugar prices, the Ministry of Industries and Production has issued a warning to the millers and the distributors to stop profiteering and overcharging the consumers; otherwise, stern action will be taken against the violators.

In this connection, a high-level meeting was held here on Friday under the chairmanship of Federal Minister for Industries and Production Rana Tanveer Hussain to review sugar prices, which was also attended by Federal Board of Revenue (FBR) Chairman Rashid Mehmood Langrial and other senior officials. The discussion focused on ensuring price stability during Ramazan and providing relief to the consumers.

Within the past two months, sugar prices in the wholesale market have witnessed an increase of Rs 900 per 50-kg bag or Rs18 per kg, while in retail; the sugar price has crossed the Rs 150 per kg mark, which is the highest price for over the year.

Minister for taking strict action against sugar hoarders

Last year, the federal minister for industries and production warned sugar millers against increasing local commodity prices and linked permission for sugar export with stability in local prices, but despite repeated warnings by the federal minister, the sugar prices have increased by Rs900 per 50-kg bag or Rs18 per kg within the past two months in the country.

Federal Minister Hussain emphasised that the government will not allow any unnecessary increase in sugar prices during Ramazan. He directed the relevant authorities to take strict measures to stabilise prices and ensure an uninterrupted sugar supply. Strict monitoring mechanisms will be implemented, and hoarding or artificial price hikes will not be tolerated.

The final announcement regarding sugar prices will be made on Thursday, February 6.

The meeting also addressed the concerns of farmers regarding sugar production and pricing.

Hussain stressed the need to include farmers in profit-sharing and urged sugar mill owners to play an active role in resolving their financial and production-related challenges.

Hussain on Friday assured that there would be no increase in the sugar price during the month of Ramazan. While chairing a meeting to review sugar prices, the minister emphasised that it is the government’s responsibility to provide relief to consumers during Ramazan.

The meeting gave sugar mills owners one week to consult on sugar prices. The final price of sugar will be announced on February 6 (Thursday).

He highlighted that sugar mills owners must make farmers partners in profits and play their role in solving their production and financial problems.

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